China's Second-Largest Bank, China Construction Bank, Is Considering Entering Bulgaria

Business » FINANCE | July 8, 2019, Monday // 12:37
Bulgaria: China's Second-Largest Bank, China Construction Bank, Is Considering Entering Bulgaria

China's second-largest bank, China Construction Bank, is considering entering Bulgaria. This was stated by the President of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov to Bloomberg TV Bulgaria. According to him, China Construction Bank Corporation's assets are worth 3.3 trillion. dollars and an annual profit of $ 37 billion, have visited Bulgaria together with the executive vice-president of the bank and a very serious team and their representative in Luxembourg.

"They are very serious about the topic of their presence in Bulgaria and its form. Unfortunately, the state institutions were not interested, but we will make sure that the information we have gathered will reach them and in the next visit can be negotiated in greater detail with the institutions on which the implementation of this intention depends "Simeonov told the host Hristo Nikolov.

Last week, a presidential announcement made it clear that the head of state, Rumen Radev, has invited a Chinese bank to open a representation in Bulgaria, but without reporting which bank.

China Construction Bank Corporation is one of the leading commercial banks in mainland China and began its operations in October 1954 as China Building Bank. It is listed on the Hong Kong Stock Exchange since October 2005 and on the Shanghai Stock Exchange since September 2007. At the end of 2018, the Bank's market capitalization reached $ 207.179 billion, making it the fifth largest bank in the world. With 14,977 branches and 345,971 employees, it provides complete financial services, including personal banking, corporate banking, investment management to hundreds of millions of individuals and corporate clients.

China Construction Bank Corporation has a wide-ranging worldwide presence - over 200 branches and subsidiaries of all levels in 29 countries and regions around the world. Subsidiaries cover multiple business areas such as mutual funds, finance leases, life insurance, property insurance, investment banking, futures and pensions.

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Tags: China Construction Bank, Bulgaria, Rumen Radev, Bulgarian Chamber of Commerce and Industry, Tsvetan Simeonov

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